‘Why OPay suspended New York exchange listing, trading’
OPay Limited has provided an update regarding its New York Stock Exchange (“NYSE”) initial public offering (the “Offering”), saying the listing slated for Friday was suspended due to a regulatory inquiry relating to a jurisdiction which it said “is immaterial to the Company’s core business operations.” In a statement, the company stated that it is confident […]
OPay Limited has suspended its planned listing on the New York Stock Exchange due to a regulatory inquiry in a foreign jurisdiction that the company says is irrelevant to its core business. The company is confident that the inquiry will be resolved positively soon. OPay's decision to halt the initial public offering was reached after discussions with underwriters, and a termination of the underwriting agreement has been mutually agreed upon.
As a result, the company's ADSs will not begin trading on the NYSE as previously planned. OPay emphasizes that this event should not be viewed as an indication of its business performance, financial health, operations, or regulatory standing, as the inquiry is a foreign matter. The company remains fully committed to its customers, partners, and the digital financial ecosystem across Nigeria, Indonesia, Egypt, and Pakistan, and continues to operate normally.
The company remains dedicated to its long-term commitment to Nigeria's digital financial services sector and will provide further updates as necessary.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
